Expert Take | Lovaii Navlakhi's view on Budget 2019

Lovaii Navlakhi, managing director and CEO, International Money Matters, gives his likes and dislikes about the interim Budget 2019.

Things that worked

- Tax sops to middle-class salaried employees by raising tax rebate and relief to farmers by providing minimum direct income to support consumption sector as people have more money at hand.

- Relief to farmers/cattle farmers also likely to be positive to rural/Agri focused companies.

- Real estate sector, which was under pressure lately, likely to benefit from series of reforms.

- Single window for approval of Indian film maker likely to support media/entertainment industry.

- Pro-growth long term vision laid out by the government positive for India economy over long term.

Things that did not work

- Higher gross borrowing, could be negative for bond yields as higher government borrowing could eat into bond market demand.